Pursuit investor roadshow a success

Entrepreneurial explorer Pursuit Minerals has lodged its official prospectus with ASIC after completing a successful cross-country investor roadshow.

Pursuit Managing Director Jeremy Read said the feedback from investors had been overwhelmingly positive.

“There was a lot of positivity from the people we spoke to over the past week which has given us a lot of confidence in the strategy we’re running with for Pursuit,” Mr Read said.

“Investors really saw the value of the zinc and copper projects we are acquiring near Mt Isa and our vision for creating value at those sites.

“We believe we have an extraordinary opportunity over the next 12 to 24 months.

“The Mt Isa Super Basin is a truly world-class metals province and we are looking at a market where tightening supply and declining production are seeing global zinc prices hit 10 year highs.

“The projects we have targeted have enormous potential, with proven resources and proximity to existing infrastructure associated with the recently closed Century Zinc Mine.”

Led by a team of experienced minerals executives, Pursuit Minerals have an agreement to acquire two projects — Bluebush and Paperbark — in the Mt Isa Super Basin and a third project near Coober Pedy in South Australia.

Mr Read — who has been a director of several junior minerals companies including Meridian Minerals — where he delivered a 700 per cent return to investors in 2011, said the time was right for Australian zinc projects.

“Our Bluebush project — just 72km north-east of the Century Mine — hosts zinc mineralisation over an area in excess of 100km2, making it one of the largest areas of zinc mineralisation in Australia.

“The Paperbark project not only hosts an established zinc resource at the JB prospect, but also has confirmed copper oxide and copper sulphide mineralisation, which we will be investigating further.”

Pursuit Minerals has an agreement to acquire the projects from Teck Australia — the Australian arm of Canadian mining giant Teck — which will then hold a 19.9 per cent stake in the company.

“We have a lot of experience with these sorts of transactions and we’re confident we can deliver superior returns to investors — just as we did with our last zinc venture, Meridian Minerals,” said Mr Read.

“We’ve identified a value capture window for our zinc projects in the next 12 to 24 months, where prices should continue to be at high levels and zinc projects like Bluebush and Paperbark will be attractive to companies looking to expand their resource base.

“The Paperbark project also presents us with an opportunity to define a copper oxide resource early on, which if defined could lead to early to medium term cash flows for the company.

“As well as our projects in the Mt Isa Super Basin, we have secured a promising land holding in South Australia, with the potential to define a substantial IOCG deposit in a minerals province which has produced a number of highly successful IOCG projects, including the Olympic Dam mine.

The board plan to be reinstated to quotation on the ASX on 24 July 2017 as ASX:PUR, subject to endorsement from shareholders at a meeting on 30 June 2017.

To view the prospectus, and for more information about the projects, visit www.pursuitminerals.com.au

About Pursuit Minerals

Following completion of the capital raising and its acquisition with Teck, Pursuit Minerals Limited (ASX:PUR) intends to become a mineral exploration and project development company advancing copper and zinc projects in world-class Australian metals provinces.

With an option to acquire zinc projects in the heart of the Mt Isa Super Basin, Pursuit Minerals is uniquely placed to deliver value as it seeks to discover world class deposits adjacent to existing regional infrastructure and extract value from its existing mineral resources.

Led by a team with a wealth of experience from all sides of minerals transactions, Pursuit Minerals understands how to generate and capture the full value of minerals projects. From local issues to global dynamics, Pursuit Minerals knows how to navigate development and deliver returns to shareholders and stakeholders.